Pockit, a UK-based all-in-one financial membership, has successfully secured its initial £500,000 funding target through its equity crowdfunding campaign on Crowdcube. Founded in 2014, Pockit offers its 500,000 registered users access to a current account they can open in minutes. With a Pockit contactless prepaid Mastercard, customers may send and receive money, make payments online and in-store. They may also send money abroad to over 29 countries.
“11 million people struggle with restricted access to financial services in the UK. This exclusion heightens poverty and inhibits social mobility, and Pockit believes it is one of the least discussed social problems of our age. Pockit is on a mission to change this.”
Pockit further revealed that since launching, it has built partnerships to enable customers to improve their credit scores and earn cashback when shopping for essentials. The startup has already raised £24 million through various investors. Pockit noted that the investments have already allowed it to scale and process over £1 bill in transactions for users.
“Pockit does not plan to stop here and will continue scaling the business, which is why it is fundraising. This crowdfund will allow them to reach the next step of their journey to provide smarter financial services to even more people across the globe.”
The funding round is now set to close mid-December.
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